Business

10 July 2008 [12:19]

Azerbaijan ranking fourth for its insurance market among CIS states

Azerbaijan is ranking fourth by the volume of its insurance market, following Russia, Ukraine and Kazakhstan.
10 July 2008 [09:22]

Gas strategy of Baku city worked out

The gas strategy of the country's capital for period until 2030 is being developed by instruction of the President of Azerbaijan.
09 July 2008 [14:46]

Retail trade turnover rises 14.9% in Azerbaijan through six months of 2008

The retail trade turnover has risen 14.9% in Azerbaijan in January-June of 2008, as compared to the same period of the last year, making up 4,956,600,000, said a source from the State Statistical Committee of Azerbaijan.
09 July 2008 [11:27]

Kamal Ibrahimov: "Conduction of international insurance forum in Baku proves interest of investors in our insurance market"

Association of Azerbaijani Insurers under support of the country's Ministry of Finance is arranging the first Azerbaijani international insurance forum to be held in Baku on July 10-11 of this year.
09 July 2008 [10:04]

Azerbaijan-Israel business forum held in Baku

The Azerbaijan-Israel business forum, organized by the Israeli embassy to Azerbaijan and Azerbaijan export and investments promotion foundation (AZOPROMO) under support of Azerbaijan's Economic Development Ministry was held in Baku.
09 July 2008 [09:57]

President of Azerbaijan attends Garadagh ship-commissioning ceremony

President of Azerbaijan Ilham Aliyev has today attended the commissioning ceremony for the Garabagh dry cargo vessel in the Baku bay.
08 July 2008 [13:23]

Vasili Istratov: "The economic subjects of Azerbaijan and Russia will soon initiate talks on interaction in the sphere of gas supplies"

Russia's purchase of Azerbaijani gas was also discussed during the visit of Russian President Dmitri Medvedev to Azerbaijan, alongside with others, said Russian ambassador to Azerbaijan Vasili Istratov at a press conference today.
08 July 2008 [12:03]

Azerbaijani Transport Ministry's delegation to visit Ukraine

The delegation of the Azerbaijani Transport Ministry intends to familiarize with the producing sites of the Ukrainian Boqdan corporation in Lutsk and Cherkass in September of 2008.
08 July 2008 [10:43]

Rovnag Abdullayev: "Azerbaijan is ready to create conditions for gas transit from other Caspian littoral states"

SOCAR President Rovnag Abdullayev received general chief executive of Hungarian Mol oil and gas company Georgy Mosoni.
08 July 2008 [10:09]

Baku-Makhachkala air flight launched

The first air flight by Baku-Makhachkala route was operated on Monday.
08 July 2008 [09:03]

Hungarian Prime Minister: "Azerbaijan may change European energy policy"

Azerbaijan may change energy policy of Europe, considers Hungarian Prime Minister Ferenc Gyurcsany.
07 July 2008 [16:58]

Heydar Babayev: "The session of the work group of Azerbaijan and WTO will be held soon"

The tenth session of the commission for Azerbaijan's preparations for WTO accession was held.
07 July 2008 [15:00]

Azerbaijan-Ukraine business-forum to be held in Kiev

The third session of the Azerbaijan-Ukraine work group on small and middle business development will be held in Kiev on July 8.
07 July 2008 [13:54]

Two more bridges to be launched in Baku by late September

Bridges near Khalqlar Dostlughu metro station and Ramstore supermarket at Heydar Aliyev's avenue will be launched in late September, said spokesman for Azerbaijani Transport Ministry Namik Hasanov.
07 July 2008 [11:57]

Express carriages' speed to reach 150 kmh in Azerbaijan

Korean railway delegation composed of 10 people will visit Azerbaijan on July 30-31 of this year, said spokesman for Azerbaijani State Railroad Nadir Azamamedov.
07 July 2008 [09:18]

Caspian Shipping to buy new tankers and ferry-boats

The Caspian Shipping company will buy three tankers from Russia.
05 July 2008 [11:40]

AZN 14 mln allocated for improvement of gas supply to 9 Azerbaijani regions

President of Azerbaijan Ilham Aliyev has passed a decree on additional measures on acceleration of gas supplies to some regions of the country, according to AzerTac.
05 July 2008 [10:15]

Azerbaijan to add to top ten in Business Doing-2008 report

Azerbaijan will be included into the top ten of reformer-countries in economy in the WB Business Doing-2009 report, said Economic Development Minister Heydar Babayev.
05 July 2008 [09:42]

World Bank analyzing economic processes in Azerbaijan

Azerbaijan's Economic Development Minister Heydar Babayev receives head of the WB sector on poverty reduction and economic regulation Luca Barbonie, said the press service for the Ministry.
05 July 2008 [09:24]

Heydar Babayev: "Government of Azerbaijan supports initiative of unification of private companies into alliances"

The Azerbaijani government is positive on the intention of private companies, producing the same goods, to unite into an alliance for the purpose of strengthening export positions, said Economic Development Minister of Azerbaijan.
04 July 2008 [16:18]

Heydar Babayev: "Azerbaijan will preserve leading positions by its economic growth rates"

Despite crisis in world economy, Azerbaijan will preserve leading positions by its economic growth rates in the world, said Azerbaijan's Economic Development Minister Heydar Babayev today.
04 July 2008 [12:39]

Azerbaijan needs $1.3 mln for sewerage system installation

Azerbaijan collected 40.3% of all water fees in 2007, said Azersu president Nizametdin Rzayev.
04 July 2008 [10:45]

Azerbaijani Economic Development Minister discusses "World Energy 2008" report with BP representative

Azerbaijan Economic Development Minister Heydar Babayev received senior economist of BP company on CIS states Vladimir Drebentsov, said the press service for the Ministry.
04 July 2008 [09:38]

Azerbaijan to review content of minimal consumer basket

Azerbaijan's Economic Development Ministry is reviewing the content of the minimal consumer basket in Azerbaijan.
04 July 2008 [09:18]

Baku oil refineries to be shutdown by 2018

The State Oil Company of Azerbaijan will shutdown Baku oil refineries after launching a new oil refining and chemical complex in Sangachal, said SOCAR representative.
03 July 2008 [14:35]

Iran to supply component parts to Azerbaijan for assembling 10,000 cars

The biggest Iranian car producer- Khodro company- has signed a contract with Azerbaijan of $75,000,000 for supply of component parts for assembling of Samand cars.
03 July 2008 [09:32]

Vahid Alekperov: "Period of cheap oil has ended"

Period of cheap oil in the world has ended and growing demand on energy resources stimulates their price hike, said Lukoil president Vahid Alekperov at a press conference in Baku.
03 July 2008 [09:21]

Vahid Alekperov: "Investment climate in Azerbaijan is improving year by year"

Russian Lukoil company is pleased with the investment climate in Azerbaijan, said company president Vahid Alekperov at a press conference in Baku today.
02 July 2008 [17:17]

Vahid Alekperov buys control stock in Azerbaijani Nikoil bank

Topaz investments company, owned by Vahid Alekperov, has bought 5,977,500 ordinary shares in the Nikoil commercial investment bank for AZN 11,955,000.
02 July 2008 [13:44]

SOCAR exports over 183,000 tons of gasoline through six months

SOCAR Department of Market and Economic Operations exported 27,544 tons of gasoline.
02 July 2008 [12:14]

Baku-Kars flight to be launched next week

Azerbaijan’s Turan Air will be operating direct flights between Baku (Azerbaijan) and Kars (Turkey) from July 11, said the airline.
02 July 2008 [11:55]

International Monetary Fund: "Inflation is still threatening to Azerbaijan"

Azerbaijan has attained high economic growth rates, but there is still threat of inflation.
01 July 2008 [17:24]

SOCAR exports over 700,000 oil barrels by Baku-Novorossiysk pipeline in 2008

In the first half of the year SOCAR has exported 698,466 tons of crude by the northern route.
01 July 2008 [17:08]

Baku Stock Exchange deals make AZN 4,021,759,000 through half a year

The total amount of stock-exchange deals on all tools at Baku Stock Exchange made AZN 4,012,759,000 in January-June of 2008, which is up 267.79% as compared to the same period of the last year.
01 July 2008 [15:27]

Vasili Istratov: "Trade turnover between Azerbaijan and Russia will top $2 bln in 2008"

It is now possible to say that by results of 2009 the trade turnover between Azerbaijan and Russia will top $2 bln, said Russian ambassador to Azerbaijan Vasili Istratov at a press conference today.
01 July 2008 [12:08]

New reservoir park to be launched at Neft Dashlary field in Azerbaijan

A park consisting of 6 reservoirs to store 12,000 tons of oil is currently being established at Neft Dashlary field.
01 July 2008 [09:08]

Sovereign Hospitality Group announces plans of investment in Azerbaijan

International construction and investment group in the sphere of hotel business and tourism Sovereign Hospitality Holdings announced plans of investment to Azerbaijan.
30 June 2008 [11:24]

Heydar Babayev: "Azerbaijan is interested in expanding ties with the United States and is ready to support development of bilateral cooperation"

Azerbaijan's Economic Development Minister Heydar Babayev received special representative of US State Department for Business and Commercial Affairs Frank Mermoud.
30 June 2008 [09:31]

Azerbaijan ranking 40th in the list of World's Most Corrupt Countries

International organization Transparency International has released its annual report named "Corruption barometer".
30 June 2008 [09:01]

Azerbaijan ranking 82nd in the list of Best countries for Business

The Forbes magazine has worked out a rating of the Best countries for business.
28 June 2008 [09:43]

Disadvantaged foreigners, residing in Azerbaijan, may get material aid

Disadvantaged foreigners, residing in Azerbaijan, will also receive address social aid, said the press service for the Azerbaijan Ministry of Labor and Social Protection.
28 June 2008 [09:09]

Baku to host first Azerbaijan international insurance forum

The first Azerbaijan International Insurance Forum will be held in Baku on July 10-11 of 2008.
27 June 2008 [13:52]

Azerbaijan, Georgia and Turkey to initiate talks on single power grid

In the near future Azerbaijan, Georgia and Turkey will start talks on creation of a single power grid to ensure power exchange.
27 June 2008 [11:54]

13-storied car park to be built in Baku

11 overpasses will be built in Azerbaijan in the coming three years, said a source from the Transport Ministry of Azerbaijan.
25 June 2008 [12:44]

Steel mill to be built in Ganja

Azerbaijan Investment Company has signed a memo of understanding with Det.Al Holding Limited group of companies.
24 June 2008 [16:40]

Shah deniz gas extraction to make 13 bln cubic meters at the second stage

The commercial operator of Shah Deniz field development project, locating in the Caspian Azeri Sea- StatoilHydro Azerbaijan has predicted the annual extraction following launching of the second phase to be 13 bln cubic meters.
24 June 2008 [14:11]

Eyub Huseynov: "Marking on imported goods should be in the Azerbaijani language"

The law, prohibiting sale of goods with markings in Armenian language, is absent in Azerbaijan, said chairman of Free Consumers Association Eyub Huseynov, according to Novosti-Azerbaijan.
24 June 2008 [13:22]

UN global agreement for private sector encouragement to be applied in Azerbaijan

The UN Development Program (UNDP) and Azerbaijan Export and Investment Promotion Foundation (AZPROMO) presented a project, allowing to introduce UN Global agreement in our country.
24 June 2008 [09:32]

Anne Derse: "US will support Azerbaijan in WTO accession"

US ambassador Anne Derse highly evaluates the process of Azerbaijan's WTO accession, reports the press service for the Economic Development Ministry, according to Novosti-Azerbaijan.
23 June 2008 [17:36]

Delegation of businessmen from Iceland visiting Azerbaijan

Representatives of Icelandic companies VST-Rafteikning Engeneerings Company and Loftleidir Icelandic have arrived in Azerbaijan.
23 June 2008 [16:01]

Heydar Babayev: "Issue of WTO accession is important for support of Azerbaijan's agriculture development"

Azerbaijan's Economic Development Minister Heydar Babayev received US ambassador to Azerbaijan Anne Derse.
23 June 2008 [11:15]

Three companies to fight for opening of a sport TV channel in Azerbaijan

The application deadlines for the tender, declared by the Azerbaijan National Council for TV and Radio Broadcasting for opening of a sport TV channel, have expired, announced chairman of the council Nushirevan Meherremli.
23 June 2008 [09:25]

Azerbaijani and Slovakian transport ministries sign protocol of intentions to cooperate

Azerbaijan's Transport Minister Ziya Mamedov met with Slovakian Minister of Transport and Communications Ljubomir Vazhni.
21 June 2008 [12:01]

SOCAR to employ magister of US Columbian University

Magister of US Columbian University Rovshan Najaf will be employed by the State Oil Company of Azerbaijan.
21 June 2008 [09:12]

Rovnaq Abdullayev: "Azerbaijan will raise gas supplies to other countries"

Azerbaijan will soon raise volumes of natural gas supplies to other countries, said president of the state oil company of Azerbaijan Rovnaq Abdullayev.
21 June 2008 [08:55]

GDP reaches AZN 14.3 bln in Azerbaijan in January-May

GDP made AZN 14,308.6 mln in Azerbaijan in January-May of 2008, which is 14.6% higher in comparison with the same period of the last year.
20 June 2008 [17:37]

Eyub Huseynov: "Petrol mafia of Azerbaijan is regularly deceiving consumers"

"The petrol stations mafia of Azerbaijan is regularly violating rights of local consumers", said chairman of Azerbaijan's Union of Free Consumers Eyub Huseynov.
20 June 2008 [17:20]

Azerbaijan's State Immovable Property Register holds discussions with German KfW bank on a joint project

The State Immovable Property Register of Azerbaijan intends to start implementation of the project "Immovable property cadaster and registration" in Ganja and Sheki.
20 June 2008 [17:07]

Kavkaz Cannery employees block Baku-Rostov road

About 150 workers of Kavkaz Cannery have today staged a protest, blocking Baku-Rostov road at 10.30 am.
20 June 2008 [15:18]

Ramiz Hasanov: "Most of Azerbaijan-made foodstuffs come short of standards"

Azerbaijan Institute of Standards has developed nearly 200 national standards over the past one and a half year, said Ramiz Hasanov, Chairman of the Azerbaijan State Agency for Standardization, Metrology and Patents.
20 June 2008 [14:41]

Investments to construction made AZN 1.6 bln within five months in Azerbaijan

AZN 2,695.9 bln were invested from all financial sources to the main capital in Azerbaijan in January-May of 2008, which is up 21.7% as compared to the same period of the last year.
20 June 2008 [11:28]

President of Turkmenistan receives head of SOCAR

President of Turkmenistan Qurbanqulu Berdimukhammedov received head of the State Oil Company of Azerbaijan Rovnag Abdullayev, visiting Ashgabat.
20 June 2008 [10:06]

New platform launched at Neft Dashlary field in Azerbaijan

New two-unit platform No 2387 has been launched at Neft Dashlary field, reports Day.Az with reference to the SOCAR press service.
20 June 2008 [09:28]

Caspian Shipyard Company agrees to 6% salary rise for employees

Representatives of Oil, Gas and Extractive Industry Labor Union met with the leadership of the Caspian Shipyard to convey the demands of workers.
20 June 2008 [09:09]

Azerbaijan, Russia, Iran sign final protocol on construction of Kazvin-Resht-Astara railroad

The construction of the Kazvin-Resht-Astara railroad is planned to complete by 2012, reported a source from the Azerbaijan Railway Administration.
19 June 2008 [17:40]

Azerbaijan accounts for 4,600 foreign employees

As of June 1 of 2008 Azerbaijan accounted for 4,303,700 economically active people with 4,028,000 employed.
19 June 2008 [16:26]

Dedeman hotel to open in Azerbaijan

General manager of Turkish Dedeman Hotels&Resorts International Tammer Yorukoghlu announced that the structure, he leads, plans to open another 8 hotels with one in Azerbaijan, by the end of 2009.